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All about LLP (Limited Liability Partnership)
Limited Liability Partnership is a combination of a company and a partnership firm. It has the limited liability of a company and flexibility of a partnership.
Taxation of Cryptocurrencies
The current dilemma faced by the government authorities is to come up with an efficient way of taxing cryptocurrencies, which in turn puts the crypto investor community in a jeopardy.
Interest earned out of share application is adjustable towards share issue expenditure
The issue with respect to the tax treatment of interest earned out of the share application money deposited with a bank due to a statutory requirement has been a matter of debate before the Courts.
Taxability of Share premium under Section 56(2)(viib)
Section 56(2)(viib) was introduced to deter the use of unaccounted money done through subscription of shares of a closely held company, at a value that is higher than the FMV of the shares of such a company.
How and Why did the Adani Stocks see a downfall?
The main reason for this huge fall was because the National Securities Depository Limited had frozen the accounts of three foreign funds that hold over Rs. 43,500 Cr which were invested in the Adani Group.
Why did Reliance Retail buy Just Dial?
Reliance Retail acquired a 41% equity stake in Just Dial to expand its presence in the local listing and commerce platform. This acquisition is done by subscribing to preferential shares.
Which ITR Should You File for FY 2020-21?
The applicability of the ITR form depends on the sources of income, amount of income earned and the category of the taxpayer like individual, HUF, Company etc.
Tax Implications on Reconstitution/Dissolution of a firm and Transfer of Assets to partners
Finance Act 2021 has made amendments to the provisions of the Income Tax Act, pertaining to the tax liability arising on the distribution of assets by the firm to its partners on its reconstitution or dissolution.
Process of Conversion of OPC Into Private / Public Company
MCA has introduced the Companies (Incorporation), Second Amendment Rules, 2021 on 1st February 2021. An amendment in the Process of Conversion of One Person Company to Private/Public Company has been made.
Key Relaxation to small companies
The status of a company as a “Small Company” may change from year to year. Thus the benefits which are available during a particular year may stand withdrawn in the next year and become available again in the subsequent year.
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